VANCOUVER, British Columbia, May 04, 2022 (GLOBE NEWSWIRE) -- Alpha Copper Corp. (CSE: ALCU) (OTC: ALCUF) (“Alpha,” Alpha Copper,” or the “Company”) a resource sector enterprise founded to create value through mineral exploration, technical development, and asset acquisition is pleased to announce plans for an increased budget to facilitate an aggressive 2022 exploration program at its Indata Project in British Columbia.
Predicated on increased interest in domestic critical resources and related supply chain concerns, Alpha Coopper concurrently completed a review of the historical database for the Indata project. The review examined data from nearly 5,000 soils samples and 70-line kilometers of an induced polarization geophysical survey. The results have encouraged the company to include drill testing at several targets which were not included in the initial budget. Therefore, the Company has approved a budget increase from $750,000 to $1,000,000, which may be further increased as objectives are satisfied.
The Indata project encompasses 3,189 hectares (7,880 acres) and is located 230 kilometers northwest of the City of Prince George and immediately south of the Stardust-Kwanika Project owned by Northwest Copper Corp. The upcoming exploration program will predominantly involve diamond drilling but will also include new grid work and excavator trenching.
A quick review of copper targets (see figure 1) as they currently exist is as follows:
Lake Zone: A 1,000-meter-long induced polarization anomaly has identified and drill tested porphyry in its northern region and in 2019 returned surface samples in the southern region, where no drilling has occurred, up to 0.48% copper and 0.11 g/t gold.
NW Copper and SW Copper: Strong induced polarization anomaly in areas predominantly underlain by limestone. These Zones share geochemical and geological attributes with the Stardust deposit located 18 kilometers north owned by Northwest Copper Corp. and have considerable potential for gold.
Quarry Zone: Road construction completed by a logging company in 2019 exposed mineralization in altered andesite-diorite grading up to 3.64% copper and 5.95 g/t gold. While this result was select in nature it is significant. Limited excavator trenching completed in 2019, 250 meters west of the quarry, did reach bedrock.
Northeast Copper: In 2019 select sampling averaged 1.32% copper and 0.10 g/t gold in an area where a Placer Dome geologist sampled 17 samples in 1989 averaging 0.95% copper and 0.08 g/t gold in andesite-diorite variably silicified and quartz veined over an area of 400 meters by 250 meters (select values sometimes exceeding 3.5% copper and 500 ppb gold). An optimistic explanation for this mineralization is that it may represent leakage from a hidden porphyry system.
A figure accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9be533ba-16d7-4b26-bb62-0c7484df61da
Alpha Copper has an option to earn a 60% interest In the Indata Project from Eastfield Resources Ltd. by paying $400,000 (cash and/or shares) and completing $2,000,000 in exploration expenditures before June 20, 2023.
Alpha Copper CEO, Mr. Darryl Jones notes, “The market outlook for copper is outstanding due to extraordinary global circumstances. We believe we are in the right place at the right time and now is the time to invest in what we believe in. We look forward to moving ahead towards to developing a clear picture of our Indata project and in building asset value for the company and our shareholders.”
Qualified Person
This news release has been reviewed and approved by Mr. J.W. Morton, P. Geo., who is the Qualified Person within the context of NI 43-101 and takes responsibility for its technical content.
On Behalf of the Board of Directors,
~Darryl Jones~
Darryl Jones
CEO, President & Director
Alpha Copper Corp.
Contact Alpha Copper
Invictus Investor Relations
+1 (604) 343.8661
walter@invictusir.com
About Alpha Copper Corp (CSE: ALCU) (OTC: ALCUF):
Alpha Copper is focused on contributing to the green economy by finding and developing copper resource assets in stable jurisdictions. The company is positioned to earn a 60% interest in the Indata copper-gold project located in north central British Columbia and a 100% interest in the Okeover copper-molybdenum project located near the coastal community of Powell River, British Columbia. For more information visit: https://alphacopper.com/.
Forward-Looking Statements
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this news release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the results of further exploration and other risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
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